XML 107 R92.htm IDEA: XBRL DOCUMENT v3.22.1
Unconsolidated Affiliates - Summarized Financial Information (Details) - USD ($)
$ in Thousands
 2 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2021
Oct. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
ASSETS:            
Investment in real estate assets $ 1,772,389 [1] $ 1,781,473 $ 1,772,389 [1] $ 5,830,785 [1]    
Accumulated depreciation [1] (19,939)   (19,939) (2,241,421)    
Net investment in real estate assets 1,769,115 [1] 1,797,331 1,769,115 [1] 3,617,691 [1]    
Developments in progress 16,665 [1] 15,858 16,665 [1] 28,327 [1]    
Total assets 2,945,979 [1] 2,962,667 2,945,979 [1] 4,443,740 [1] $ 4,622,346  
LIABILITIES:            
Mortgage and other indebtedness, net 1,813,209 1,678,619 1,813,209 1,184,831    
Shareholders' equity:            
The Company 396,199 547,448 396,199 531,843    
Noncontrolling interests 4,901 6,087 4,901 2,454    
Total equity 401,100 553,535 401,100 534,297 861,865 $ 1,032,165
Total liabilities, redeemable noncontrolling interests and equity 2,945,979 2,962,667 2,945,979 4,443,740    
Total revenues [2] 108,846 468,029   575,861 768,696  
Net loss (152,731) $ (486,413)   (335,529) (131,721)  
BI Development II, LLC            
ASSETS:            
Investment in real estate assets [3] 2,364,154   2,364,154 2,346,124    
Accumulated depreciation [3] (934,374)   (934,374) (862,435)    
Net investment in real estate assets [3] 1,429,780   1,429,780 1,483,689    
Developments in progress [3] 7,288   7,288 28,138    
Net investment in real estate assets [3] 1,437,068   1,437,068 1,511,827    
Other assets [3] 188,683   188,683 174,966    
Total assets [3] 1,625,751   1,625,751 1,686,793    
LIABILITIES:            
Mortgage and other indebtedness, net [3] 1,452,794   1,452,794 1,439,454    
Other liabilities [3] 64,598   64,598 45,280    
Total liabilities [3] 1,517,392   1,517,392 1,484,734    
Shareholders' equity:            
The Company [3] 102,792   102,792 132,350    
Noncontrolling interests [3] 5,567   5,567 69,709    
Total equity [3] 108,359   108,359 202,059    
Total liabilities, redeemable noncontrolling interests and equity [3] $ 1,625,751   1,625,751 1,686,793    
Total revenues     251,933 213,319 221,512  
Net loss [4]     $ 58,596 $ (12,659) $ 96,628  
[1] As of December 31, 2021, includes $262,265 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $143,593 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 12.
[2] Management, development and leasing fees are included in All Other category. See Note 5 for information on the Company’s revenues disaggregated by revenue source for each of the above segments.
[3] In conjunction with fresh start accounting, the Successor Company did not elect push-down accounting for any of its unconsolidated joint ventures. Amounts reflect the inside basis in the respective joint ventures.
[4]

The Successor Company’s pro rata share of net income is $797 for the period from November 1, 2021 through December 31, 2021 and is included in equity in earnings (losses) of unconsolidated affiliates in the accompanying consolidated statements of operations. The Predecessor Company’s pro rata share of net loss is $10,823 for the period from January 1, 2021 through October 31, 2021 and is included in equity in earnings (losses) of unconsolidated affiliates in the accompanying consolidated statements of operations. The Predecessor Company’s pro rata share of net income (loss) is $(14,854) and 4,940 for the years ended December 31, 2020 and 2019, respectively, and is included in equity in earnings (losses) of unconsolidated affiliates in the accompanying consolidated statements of operations.